Chevy Chase Trust Holdings LLC Lowers Position in DTE Energy (NYSE:DTE)

Chevy Chase Trust Holdings LLC lessened its stake in DTE Energy (NYSE:DTE) by 0.5% during the 1st quarter, HoldingsChannel reports. The firm owned 114,540 shares of the utilities provider’s stock after selling 633 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in DTE Energy were worth $12,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. MV Capital Management Inc. raised its stake in shares of DTE Energy by 104.4% during the 4th quarter. MV Capital Management Inc. now owns 280 shares of the utilities provider’s stock worth $31,000 after buying an additional 143 shares during the period. Rise Advisors LLC raised its stake in shares of DTE Energy by 89.6% during the 1st quarter. Rise Advisors LLC now owns 273 shares of the utilities provider’s stock worth $31,000 after buying an additional 129 shares during the period. Denali Advisors LLC acquired a new position in shares of DTE Energy during the 1st quarter worth approximately $34,000. Salomon & Ludwin LLC raised its stake in shares of DTE Energy by 82.3% during the 1st quarter. Salomon & Ludwin LLC now owns 432 shares of the utilities provider’s stock worth $48,000 after buying an additional 195 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in DTE Energy in the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

Insiders Place Their Bets

In other DTE Energy news, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $115.07, for a total transaction of $402,745.00. Following the transaction, the insider now owns 59,475 shares of the company’s stock, valued at $6,843,788.25. The transaction was disclosed in a filing with the SEC, which is available at this link. In other DTE Energy news, COO Mark W. Stiers sold 10,000 shares of DTE Energy stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $116.00, for a total value of $1,160,000.00. Following the transaction, the chief operating officer now directly owns 41,921 shares in the company, valued at approximately $4,862,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Trevor F. Lauer sold 3,500 shares of DTE Energy stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $115.07, for a total value of $402,745.00. Following the completion of the transaction, the insider now owns 59,475 shares in the company, valued at $6,843,788.25. The disclosure for this sale can be found here. Insiders have sold a total of 14,698 shares of company stock valued at $1,702,444 over the last quarter. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets upped their target price on DTE Energy from $111.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. Morgan Stanley lowered their price target on DTE Energy from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Barclays increased their price target on DTE Energy from $115.00 to $119.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. raised their target price on DTE Energy from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Finally, TheStreet raised DTE Energy from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, DTE Energy currently has a consensus rating of “Hold” and an average target price of $115.67.

DTE Energy Stock Up 0.2 %

Shares of NYSE DTE traded up $0.23 during midday trading on Wednesday, hitting $108.90. 318,441 shares of the company’s stock were exchanged, compared to its average volume of 1,096,722. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.75 and a quick ratio of 0.54. DTE Energy has a twelve month low of $90.14 and a twelve month high of $117.44. The company has a market cap of $22.54 billion, a PE ratio of 17.78, a P/E/G ratio of 1.99 and a beta of 0.66. The firm’s fifty day simple moving average is $112.77 and its 200-day simple moving average is $109.87.

DTE Energy (NYSE:DTE) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.04). DTE Energy had a return on equity of 11.53% and a net margin of 10.36%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.81 billion. Research analysts predict that DTE Energy will post 6.69 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.75%. The ex-dividend date is Monday, September 16th. DTE Energy’s dividend payout ratio (DPR) is 66.78%.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.